Every day provides new opportunities for a trader to step in and learn something new. Sure enough, this week provided plenty of opportunities for traders to participate in trades, at important levels.
It’s Always Easier Said Than Done
This week, Ronchero elected to do a live trading webinar during the market open. I always thought Ronchero seemed so relaxed because our interactions are over a text chatroom where individuals can be well-thought before they speak. However, Ron’s voice illustrated the composure and calmness that he carries while he trades, which only comes through practice.
In addition, his real-time analysis demonstrated how a skilled, experienced trader is able to utilize the tools they have learned to make decisions. As a novice, a lot of setups stick out to me after the fact... See below:
GOOGL filled the gap off the open before retracingGOOGL opened up on Tuesday and ran right up to fill the gap, as shown with the circle. Newer traders will watch GOOGL off the open and think it’s going to keep running up only to wonder why it reached the level it did. There are a few traders in the room that had a great morning trading GOOGL because they understood the levels that were important and how to adjust based on their account size.
$QQQ Analysis
Now that you’ve seen how I missed out on a potential trade opportunity, Ronchero spent a good deal of time in our weekly webinar discussing how he scalped QQQ using his tools.
I took a few things away from this video:
- Experienced traders are not phased by entering and exiting a trade multiple times before they get it right. They are very successful at cutting losers quickly and letting runners go. Ronchero had to take a few swings at this trade before it stuck for him.
- Successful traders subconsciously use the tools available to them without having to think about it. When I watch the video after-the-fact it all makes sense but I still do not have the skill of implementingthese tools without seeing a note.
Fun fact, the Army calls these “Battle Drills:” a collective action executed by a platoon or smaller element without the application of a deliberate decision-making process.
Ronchero has Battle Drills for Swing trading, scalping and trading LEAPS...
Upcoming Master Course
As an intern for Sang Lucci I gladly have the obligation to support the Master Course. I took the Master Course in the spring of 2020, at a time when I could not be at the computer while the markets were open. Now, I’ll have the privilege of supporting the courses in the evening and sitting in the same office as one of the educators.
The Sang Lucci organization continues to generate and implement fantastic ideas to provide the proper education to its students!